2018 Q2 Form 10-Q Financial Statement

#000168024718000079 Filed on August 09, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $459.9M $213.5M
YoY Change 115.41% 213.04%
Cost Of Revenue $351.9M $176.8M
YoY Change 99.04% 172.84%
Gross Profit $108.0M $36.72M
YoY Change 194.16% 1007.21%
Gross Profit Margin 23.48% 17.2%
Selling, General & Admin $14.20M $7.900M
YoY Change 79.75% 43.64%
% of Gross Profit 13.15% 21.52%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $21.30M $12.70M
YoY Change 67.72% 17.59%
% of Gross Profit 19.72% 34.59%
Operating Expenses $35.40M $20.60M
YoY Change 71.84% 25.61%
Operating Profit $53.56M $4.921M
YoY Change 988.32% -152.95%
Interest Expense $2.231M $650.0K
YoY Change 243.23% -89.12%
% of Operating Profit 4.17% 13.21%
Other Income/Expense, Net -$2.413M -$1.277M
YoY Change 88.96% -229.78%
Pretax Income $51.14M $5.029M
YoY Change 916.96% -135.42%
Income Tax $12.05M $108.0K
% Of Pretax Income 23.57% 2.15%
Net Earnings $39.09M $4.921M
YoY Change 694.37% -152.95%
Net Earnings / Revenue 8.5% 2.31%
Basic Earnings Per Share $0.47 $0.06
Diluted Earnings Per Share $0.45 $0.06
COMMON SHARES
Basic Shares Outstanding 83.45M shares 83.04M shares
Diluted Shares Outstanding 86.88M shares 86.28M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.10M $25.10M
YoY Change 7.97%
Cash & Equivalents $27.10M $25.11M
Short-Term Investments
Other Short-Term Assets $1.131M $3.689M
YoY Change -69.34%
Inventory $7.744M $4.819M
Prepaid Expenses $3.451M $6.933M
Receivables $316.5M $147.8M
Other Receivables $0.00 $0.00
Total Short-Term Assets $355.9M $188.4M
YoY Change 88.95%
LONG-TERM ASSETS
Property, Plant & Equipment $551.3M $360.3M
YoY Change 52.99%
Goodwill $9.425M $9.425M
YoY Change 0.0% -11.1%
Intangibles $157.0K $445.0K
YoY Change -64.72%
Long-Term Investments
YoY Change
Other Assets $2.253M $1.830M
YoY Change 23.11%
Total Long-Term Assets $563.1M $373.5M
YoY Change 50.74%
TOTAL ASSETS
Total Short-Term Assets $355.9M $188.4M
Total Long-Term Assets $563.1M $373.5M
Total Assets $919.0M $561.9M
YoY Change 63.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $268.6M $156.0M
YoY Change 72.2%
Accrued Expenses $26.33M $8.335M
YoY Change 215.88%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $10.72M $6.337M
YoY Change 69.1%
Total Short-Term Liabilities $306.1M $170.6M
YoY Change 79.4%
LONG-TERM LIABILITIES
Long-Term Debt $95.00M $10.21M
YoY Change 830.46%
Other Long-Term Liabilities $126.0K $122.0K
YoY Change 3.28%
Total Long-Term Liabilities $95.13M $10.33M
YoY Change 820.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $306.1M $170.6M
Total Long-Term Liabilities $95.13M $10.33M
Total Liabilities $427.7M $182.2M
YoY Change 134.72%
SHAREHOLDERS EQUITY
Retained Earnings -$118.5M -$226.3M
YoY Change -47.65%
Common Stock $609.8M $606.0M
YoY Change 0.62%
Preferred Stock $0.00
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $491.3M $379.7M
YoY Change
Total Liabilities & Shareholders Equity $919.0M $561.9M
YoY Change 63.55%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $39.09M $4.921M
YoY Change 694.37% -152.95%
Depreciation, Depletion And Amortization $21.30M $12.70M
YoY Change 67.72% 17.59%
Cash From Operating Activities $69.80M $2.900M
YoY Change 2306.9% -123.97%
INVESTING ACTIVITIES
Capital Expenditures -$77.10M -$61.70M
YoY Change 24.96% 1769.7%
Acquisitions
YoY Change
Other Investing Activities $2.000M $700.0K
YoY Change 185.71% 75.0%
Cash From Investing Activities -$75.10M -$60.90M
YoY Change 23.32% 2000.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -14.10M -2.500M
YoY Change 464.0% -160.98%
NET CHANGE
Cash From Operating Activities 69.80M 2.900M
Cash From Investing Activities -75.10M -60.90M
Cash From Financing Activities -14.10M -2.500M
Net Change In Cash -19.40M -60.50M
YoY Change -67.93% 455.05%
FREE CASH FLOW
Cash From Operating Activities $69.80M $2.900M
Capital Expenditures -$77.10M -$61.70M
Free Cash Flow $146.9M $64.60M
YoY Change 127.4% -834.09%

Facts In Submission

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OperatingLeasesFutureMinimumPaymentsDueInThreeYears
344000 USD
CY2018Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
391000 USD
CY2018Q2 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
316000 USD
CY2017Q4 us-gaap Other Assets Current
OtherAssetsCurrent
748000 USD
CY2018Q2 us-gaap Other Assets Current
OtherAssetsCurrent
1131000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2121000 USD
CY2018Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2253000 USD
CY2017Q2 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
572000 USD
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
572000 USD
CY2018Q2 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
18000 USD
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
20000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
125000 USD
CY2018Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
126000 USD
CY2017Q2 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
627000 USD
us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
602000 USD
CY2018Q2 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
182000 USD
us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
412000 USD
CY2017Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-627000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-602000 USD
CY2018Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-182000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-412000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
15099000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
86800000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
112630000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
152191000 USD
CY2017Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
5123000 USD
CY2018Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
3451000 USD
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
185500000 USD
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
232000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
57378000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1229000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
2282000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
51000 USD
CY2017Q2 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
87349000 USD
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
143811000 USD
CY2018Q2 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
70543000 USD
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
150496000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
470910000 USD
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
551253000 USD
CY2017Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
71800000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
163128000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
25230000 USD
us-gaap Repayments Of Longterm Loans From Vendors
RepaymentsOfLongtermLoansFromVendors
2476000 USD
us-gaap Repayments Of Longterm Loans From Vendors
RepaymentsOfLongtermLoansFromVendors
3218000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-194297000 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-118498000 USD
CY2017Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
213492000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
385423000 USD
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
459888000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
845107000 USD
CY2018Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
36900000 USD
CY2018Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P2M
CY2017Q2 us-gaap Share Based Compensation
ShareBasedCompensation
609000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
7978000 USD
CY2018Q2 us-gaap Share Based Compensation
ShareBasedCompensation
1443000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2201000 USD
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
4041277 shares
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
3.90
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
0 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
10875 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.35
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
48600000 USD
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4636353 shares
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4621853 shares
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.20
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.17
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
14.00
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
0.00
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
14.00
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.00
CY2018Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
47600000 USD
CY2018Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y1M2D
CY2018Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y5M1D
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
3625 shares
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
51000 USD
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
2201000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
413252000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
491303000 USD
us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
199000 USD
us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
0 USD
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
86279000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
69593000 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
86878000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
87124000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
83040000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69593000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
83447000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
83265000 shares

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